Answer:
Advantages of Informal Sector employment:
Some employers pay well because company owners do not have many tax obligations. Employee effort is directed towards achieving profit rather than satisfying irrelevant routines.
There can be a close and direct relationship with the employer, therefore making it easy to get permission when in need of time off.
You are saved the hassle of paying Pay As You Earn tax.
There’s no red tape when it comes to dealing with personnel issues which are expressly handled either by the employer him/herself, or a senior manager.
Sometimes employment is done on the spot with little emphasis on attending lengthy job interviews and countless aptitude tests.
Sometimes one is employed because of one’s personal relationship with the employer rather than on merit.
Disadvantages of Informal Sector employment:
Little or no job security.
Unprotected by labour laws.
Odd working hours.
No pension, insurance or health insurance scheme.
Summary dismissals.
Difficult to make any savings due to low wages.
A brief illness or injury or injury can mean no financial means to survive.
Explanation:
Answer:
A finance charge is the cost of borrowing money, including interest and other fees. It can be any fee representing the cost of credit, or the cost of borrowing.
Explanation:
Answer:
Bob Knox will be paid $598.5 for 45 hours worked.
Carson Morris will be paid gross pay $903.1 for 50 hours worked.
Explanation:
Bob Knox is paid on piece-rate basis, which means he will be paid based on the units he produced. To calculate his pay
1,890 units × $0.3 = $567
$567 ÷ 45 hours worked = $12.6 per hour
To calculate his overtime pay we multiply by 0.5 because he is paid one half of regular pay as overtime.
$12.6 per hour × 0.5 = $6.3 per hour
$6.3 per hour × 5 hours overtime = $31.5
$31.5 + $567 = $598.5.
Carson Morris is paid average rate basis for overtime. His pay will be calculated as follows,
( 36 hours × $16.00 per hour) + (14 hours × $17.50 per hour ) = $821 for (36 + 14) 50 hours.
$821 ÷ 50 hours = $16.42 per hour
$16.42 × 0.5 = $8.21 per hour
$8.21 per hour × 10 hours overtime = $82.10
=$82.1 + $821 = $903.1
Answer:
A niche market
Explanation:
<u>A niche market</u> appeals to help consumers make purchase decisions <em>by defining the product features intended to satisfy the specific market needs, as well as the price range, quality of production and the demographics</em> that it is intended to target.
By doing so, the company becomes a market leader and it becomes possible for other firms to enter that particular segment.
